London pre-open: Stocks to edge up after China GDP
Fri, 16th Apr 2021 07:34
(Sharecast News) - London stocks were set to edge up at the open on Friday following the release of encouraging Chinese GDP data.
The FTSE 100 was called to open seven points higher at 6,990.
CMC Markets analyst Michael Hewson said: Markets in Asia appear to be ending the week on a largely positive note with the main focus on this morning s Q1 China GDP numbers which showed the economy expanded by 18.3% year on year, and 0.6% on a quarterly basis. This looks set to translate into a positive European open, with all eyes on the FTSE100 and whether it can crack above the 7,000 level.
London open: FTSE 100 breaches 7,000 for first time since pandemic
Fri, 16th Apr 2021 08:19
(Sharecast News) - London stocks rose in early trade on Friday, with the top-flight index breaching the 7,000 level for the first time since February 2020 as investors mulled encouraging Chinese growth figures.
At 0900 BST, the FTSE 100 was up 0.5% at 7,018.13, with sentiment underpinned not just by the Chinese data, but also by Thursday s solid US retail sales and jobless claims numbers.
Figures released earlier by the National Bureau of Statistics showed China s economy bounced back from the pandemic in the first quarter.
GDP growth jumped to a record 18.3% in the first quarter from 6.5% in the final quarter of last year. The figures came in below expectations for 18.5% growth but marked the best year-on-year growth since records began in 1992.